Creative Accounting

Abstract

Most preparers of company accounts do their best to provide reasonably accurate and timely reports of financial performance and position. They draw up accounts on a consistent basis within the generally accepted rules. They intend their company’s accounts, as the Companies Act 2006 requires, to give ‘a true and fair view of the assets, liabilities, financial position and profit or loss’. In addition, independent accountants must audit the accounts of publicly-owned companies and express an opinion on them.

Caveat lector

Let the reader (of accounts) take care